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624 Founders Creek Avenue North Las Vegas, NV 89084

3 Beds 3 Baths 2,415 sqft Built 2018

$424,998

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $175.98
  • 6 Days on Market
  • MLS # : 2259158
  • Updated Date : 01/07/2021 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,415 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

HONEY, STOP THE CAR!!! This beautiful fully upgraded mid-century modern home in a new community features 3 bed, 2 1/2 bath, with office/den, large open concept floor plan with huge quartz center island in the kitchen. This home features stainless steel appliances, large walk in pantry, dining area, and a large great room that steps out to the covered patio where you're greeted by your sparkling pool and fully landscaped backyard. This home has been meticulously maintained and shows pride in ownership, no detail was left undone in this home! Why wait 6-8 months for the builder to build your dream home in this amazing community when it's already here and ready to go! Float in your pool while everyone else is waiting for their new home to be built!

SEE MORE

MARKET HIGHLIGHTS

  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$382,498$467,498$424,998

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,476
Property Tax -$328
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$197

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$424,998

PROJECTED PRICE

$1,800

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,374

INVESTMENT

$118,374

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,749
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$9,751

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,800

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,998

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,9494$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 624 Founders Creek Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 6716 Maple Mesa Street #0 North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2001
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 1904 La Calera Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2008
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.84
    •  
  • 209 Whitetail Archery Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2009
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 6740 Fireball Court North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,436 Sqft ∙ Built 2018
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jeffery Combs
1.702.339.8828
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259158
Last Updated: 01/07/2021
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